General Ledger Accounting Software

Archive for September, 2011

7.2
Identifying the accounts used to record sales and related transactions.
The transactions below took place at Juan’s Sporting Goods, a retail business that sells ourdoor clothing and camping equipment. Indicate the numbers of the general ledgar accounts that would be debited and credited to record each transaction.

GENERAL LEDGER ACCOUNTS
101 Cash
111 Accounts Receivable
231 Sales Tax Payable
401 Sales
451 Sales Returns and Allowances

May 1 Sold merchandise on credit; the transaction involved sales tax
May 2 Received checks from credit customers on account
May 3 Accepteda return of merchandise from a credit customer; the original sale involved sales tax
May 4 Sold merchandise for cash; the transaction involved sales tax
May 5 Gave an allowance to a credit customer for damaged merchandise; the original sale involved sales tax
May 6 Provided a cash refund to a customer who returned merchandise; the original sale was made for cash and involved sales tax

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I need to post entries into the general ledger for a company and I am having troubles with the figures. PLEASE HELP!!!
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General journal, general ledger, balance sheet, financial statement? how are they related? and what are the definitions of the first two?

I need help with Accounting, I do not understand it at all. I started a college class at the beginning of May and I had trouble with it and now I am finding myself 3 chapters behind everyone else and not knowing what to do. Basically, right now, I need help with BALANCE SHEETS, GENERAL LEDGERS/T CHART ACCOUNTS, and GENERAL JOURNALS. Does anyone know of any free websites that can explain the basics to me?? My book isn’t very good.

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l.workingpoint.com The WorkingPoint Invoices List shows all of the customer invoices and quotes you have created. You can see at a glance which invoices have been paid, which ones are overdue, and which ones are open, as well as quotes. You can also see the total value of all invoices, the total amount due on all invoices, and the total amount of all the quotes. Accounting is soimportant for your business. You need a business accounting software, payroll, bookkeeping that will do more than just keep your accounts in order or be a general ledger. You need an accounting software that is designed especially for the way you run your small business. Enter WorkingPoint. What makes WorkingPoint so special? No other free invoice software gives you free invoices, profit loss statements and all the other features you need to run your business in such an easy to use package! Enter your information into our free profit and loss form to see a complete financial picture of your business in a few easy steps. Looking to start creating invoices or for an easy free invoice download, free printable invoice or free online invoice form? Create invoices for free with WorkingPoint. Looking for a sample profit and loss statement? We’ve got a profit loss form to get you started. Create a WorkingPoint login in a few easy steps and get started. WorkingPoint is more than just a free invoice. It’s more than just a free profit loss statement form. It integrates your invoice with a complete financial …